Desay SV(SZ:002920) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-07-02 02:53Core Viewpoint - The company has completed the registration of its 2025 stock option incentive plan, granting 2.858 million options to 298 recipients, with the registration date set for July 1, 2025 [1][4]. Approval Procedures - The company held its fourth board meeting on May 23, 2025, approving the draft of the 2025 stock option incentive plan and related matters [1][2]. - The supervisory board also approved the plan and verified the list of incentive recipients [2]. - A public notice regarding the incentive recipients was made from May 24 to June 2, 2025, with no objections received [2]. - The second extraordinary general meeting of shareholders on June 9, 2025, approved the incentive plan and authorized the board to handle related matters [3]. Granting Details - The stock options were granted on June 9, 2025, with a total of 2.858 million options at an exercise price of 86.09 yuan per option [4][6]. - The options are designated as "Xiwai JLC1" with the code 037907 [4][14]. Distribution and Validity - The options are distributed among 298 recipients, with the total number of options remaining unchanged despite two recipients voluntarily waiving their options [5][13]. - The validity period of the incentive plan is up to 43 months, with different waiting periods of 12 and 31 months for the recipients [8]. Performance Assessment - The performance assessment for the incentive plan will occur in the fiscal years 2025 and 2027, with specific revenue and net profit targets set for each year [10]. - Individual performance evaluations will determine the actual number of options that can be exercised, categorized into four performance levels [11][12]. Financial Impact - The company will use the Black-Scholes model to calculate the fair value of the options, with the cost of the options being amortized from 2025 to 2028 [14].